If Timothy Alan Simon has his way, California consumers will soon get nicked for a nonexistent tax, paying millions of dollars each year for a tax that will go not to finance government, but to enrich a monopoly.
Simon is a securities lawyer whom Gov. Arnold Schwarzenegger (R) appointed to the California...

Last week Bloomberg ran a story on how U.S. multinational companies use sophisticated techniques to avoid paying billions in U.S taxes – billions that the rest of us get to make up.
The designers of these tax “maneuvers” are brilliant people. They take pride in their legal gaming...

Way back in August 2010, South Carolina Governor Nikki Haley called for repeal of her state's corporate income tax. I blogged about this issue at the time. I pointed out that the state corporate tax was an inefficient and ineffective way to raise revenue, but that I was not sure South Carolina could...

There's a report that's getting a lot of attention this morning that concludes that many large U.S. corporations paid little or no corporate income taxes between 2008 and 2010 even though they raked in millions of dollars. The report, prepared by the interest group Citizens for Tax Justice and...

There's a report that's getting a lot of attention this morning that concludes that many large U.S. corporations paid little or no corporate income taxes between 2008 and 2010 even though they raked in millions of dollars. The report, prepared by the interest group Citizens for Tax Justice and...

The Republicans in the South Carolina House are preparing a significant reform plan that will vastly improve the state's tax system. Although details are sketchy, the plan will broaden the sales tax base by eliminating two thirds of the exemptions and lower the rate by half a percentage. All remaining...

It has been the stated policy of the United Kingdom's Conservative-led coalition government "to create the most competitive corporate tax regime in the G20." Chancellor of the Exchequer George Osborne reiterated this policy -- expanded to include all noncorporate business -- in his 2012...

Budget & Taxes
STATES' FISCAL HEALTH CONTINUING TO IMPROVE: State fiscal conditions are continuing their slow and mostly steady improvement, according to the National Conference of State Legislatures' Spring 2012 budget update. For the first time since the start of the Great Recession...

Budget & Taxes
STATES' FISCAL HEALTH CONTINUING TO IMPROVE: State fiscal conditions are continuing their slow and mostly steady improvement, according to the National Conference of State Legislatures' Spring 2012 budget update. For the first time since the start of the Great Recession...

The West Virginia Supreme Court of Appeals held that the licensing of intangible trademarks and trade names by ConAgra into West Virginia did not subject ConAgra to corporate income tax.
In sustaining the opinion of the state circuit court, which overturned the Board of Tax Appeals finding in favor...

By Todd B. Reinstein , Partner, Pepper Hamilton LLP
Section 382 limits a loss corporation's ability to use its tax net operating loss (NOLs) carryforward following an "ownership change."[1] An ownership change is triggered if one or more "5-percent shareholders" of the loss...

By Todd B. Reinstein , Partner, Pepper Hamilton LLP
Section 382 limits a loss corporation's ability to use its tax net operating loss (NOLs) carryforward following an "ownership change."[1] An ownership change is triggered if one or more "5-percent shareholders" of the loss...